One of Australias most heavily touted tech startups – custom footwear-maker Shoes of Prey – has filed for insolvency.
Helpfully, co-founder Michael Fox has explained why in a Medium post.
The TL;DR: even though it had a loyal fan base among well-heeled women who appreciated its shoe customisation service, the company was never profitable and couldnt find a way to get there.
The Shoes of Prey schtick was an online shoe design tool, focused on stylish womens footwear. The company was hailed as a pioneer of personalised and customised apparel. It won a stack of awards from the retail and startup industries to attest to its early splash. Its founders were asked to speak at conferences to describe their insights into the…
Read the full article at: https://www.itnews.com.au/news/startupland-darling-shoes-of-prey-files-for-insolvency-520414